1. PNO has 198 million shares on issue.
2. The company holds 88 million MPLA shares.
3. MPLA shares closed at US$0.56 last night.
4. Therefore PNO's holdings has a market value of 0.56x88/198=US$0.29 per share.
5. Based on an exchange rate of US0.75 to Aus$1.00,
1 PNO share is valued at 0.29/0.75=Aus$0.38.7
6. PNO share closed at Aus$0.058 on Friday
1. PNO has 198 million shares on issue. 2. The company holds 88...
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